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Cable Update (GBPUSD)

  • #68,481
  • May 30, 2008 1:45am May 30, 2008 1:45am
Quoting salah k.
anybody know what happened to beranke's speech?
did he talk at all?

On the federal reserve web site, the speech of yesterday was the same as the one he gave the 13...

http://www.federalreserve.gov/newsevents/default.htm

Thursday, May 29, 2008 3:15:00 PM
...
The Fed chairman was largely repeating a speech he gave May 13 to an Atlanta Fed conference.
...
Much of Bernanke's speech was devoted to explaining the extraordinary expansion of direct Fed lending to Wall Street in the wake of the credit crisis.
Getting it right is NOT as important as not getting it wrong.
  • #68,482
  • May 30, 2008 1:51am May 30, 2008 1:51am
thnx man
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #68,483
  • May 30, 2008 1:58am May 30, 2008 1:58am
if u draw fibo from 2.04 to the last low we made around 9365
u can see that now we are hovering around 38.2 line
and last week our high barely touched 50% line


so i dont know about u guys but along with good US fundamentals and bad UK and euro fundamentals so far

i think this baby is gonna drop.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #68,484
  • May 30, 2008 2:15am May 30, 2008 2:15am
Quoting salah k.
i think this baby is gonna drop.
All is possible ( especially with crazy cable ), so just be prepared for both a breakdown or a breakout. I'm favoring the downside too, but with so much time spent consolidating, I'm starting to have some doubts.

Bulls, still have to take back 1.9826, to show us their willingness to push for a breakout...

Patience, patience...
Getting it right is NOT as important as not getting it wrong.
  • #68,485
  • May 30, 2008 2:29am May 30, 2008 2:29am
Trading the pound lately takes a special kind of skill with a lot of luck.
  • #68,486
  • May 30, 2008 3:39am May 30, 2008 3:39am
Quoting salah k.
if u draw fibo from 2.04 to the last low we made around 9365
u can see that now we are hovering around 38.2 line
and last week our high barely touched 50% line


so i dont know about u guys but along with good US fundamentals and bad UK and euro fundamentals so far

i think this baby is gonna drop.
Anybody is trading cable today? This thread is quiet. Anybody caught the move downward?
Expected the unexpected
  • #68,487
  • May 30, 2008 3:50am May 30, 2008 3:50am
Quoting primzvicious
Prepare For A Nice Drop
This not what im talking about, im talking about breaking yesterday low
Verily, in every difficulties there is relief
  • #68,488
  • May 30, 2008 3:51am May 30, 2008 3:51am
Quoting scyang
Anybody is trading cable today? This thread is quiet. Anybody caught the move downward?

I am and I did catch part of the drop London time. But not after holding a drawdown for my short trade since ASIA.

But watching this now for potential reversal level. Looks deep though.. before a bounce.
  • #68,489
  • May 30, 2008 3:58am May 30, 2008 3:58am
Quoting scyang
Anybody is trading cable today? This thread is quiet. Anybody caught the move downward?
Still in swing trade short for 1.9590 target, been waiting the whole week for the trade to develop.
Getting it right is NOT as important as not getting it wrong.
  • #68,490
  • May 30, 2008 4:01am May 30, 2008 4:01am
Quoting scyang
Anybody is trading cable today? This thread is quiet. Anybody caught the move downward?
I still holding short post and the tp 1.9650
  • #68,491
  • May 30, 2008 4:10am May 30, 2008 4:10am
Quoting B@by trader
I still holding short post and the tp 1.9650
Becareful as its a dangerous momment....
Keep Learning and you'll get what you want...
  • #68,492
  • May 30, 2008 4:11am May 30, 2008 4:11am
maybe someone wants to know more about my analysis called standard deviation analysis(on my recent post).so my teacher the father of this technique open a thread on ff check it out!
click here
  • #68,493
  • May 30, 2008 4:21am May 30, 2008 4:21am
Quoting B@by trader
I still holding short post and the tp 1.9650
i am not still holding but i have a new short with same t/p as urs
s/l set at 9795
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #68,494
  • May 30, 2008 4:24am May 30, 2008 4:24am
Quoting pepper
Trading the pound lately takes a special kind of skill with a lot of luck.
actually bro cable has been easy to trade
i mean we have been ranging for almost 2 weeks now and on any peice of news cable is driven for 100 pips or so and then back to almost its original place


so it was kinda easy to catch pips from it using a good t/p and s/l.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #68,495
  • May 30, 2008 5:29am May 30, 2008 5:29am
is this H & S??
Attached Image (click to enlarge)
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  • #68,496
  • May 30, 2008 5:50am May 30, 2008 5:50am
Quoting Mr.Sabah
is this H & S??
Not likely imho, if it's an h&s, it should appear after a downtrend, and it's not really the case.

But if we eventually get a breakout of the descending trend line, we could take the pattern to project a target, it would then be around 1.9920.

Let's see how that unfolds...
Getting it right is NOT as important as not getting it wrong.
  • #68,497
  • May 30, 2008 6:12am May 30, 2008 6:12am
We now have a validated H1 (2 points + 1 test) up trend line at around 1.9698.

If we get there again, then it should serve as a guide for further trading imho...
Attached Image (click to enlarge)
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Getting it right is NOT as important as not getting it wrong.
  • #68,498
  • May 30, 2008 6:20am May 30, 2008 6:20am
Quoting fxswing
We now have a validated H1 (2 points + 1 test) up trend line at around 1.9698.

If we get there again, then it should serve as a guide for further trading imho...

Arguably it's 2 tests now of the acsending 4hr trend line? (ie: yesterday's low and today's current intraday low)
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ex member
  • #68,499
  • May 30, 2008 6:27am May 30, 2008 6:27am
Quoting bbmac
Arguably it's 2 tests now of the acsending 4hr trend line? (ie: yesterday's low and today's current intraday low)
Yep, I agree. But as long as we don't have a clear break or bounce we'll have to continue to and
Getting it right is NOT as important as not getting it wrong.
  • #68,500
  • May 30, 2008 7:15am May 30, 2008 7:15am
When will the cable be replaced by the euro?
When life gives you lemons, make lemonade
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